Two Energy Companies Plan to Buy Closed Ford Factory

Associated Press (8/27) – "Two alternative energy companies planning to buy a closed Ford Motor Co. factory near Detroit want to convert it into the country's largest renewable energy park, with at least 2,800 workers building storage batteries, solar panels and possibly wind turbines." The "proposed $725 million project outlined to state lawmakers Wednesday would be a coup for a state in desperate need of jobs." Xtreme Power of Kyle, Texas, and Clairvoyant Energy of Santa Barbara, California, said "that if state tax incentives and federal loans are approved, they will purchase and refurbish the sprawling 320-acre Wixom Assembly Plant 25 miles northwest of Detroit, which was closed in 2007 as part of Ford's restructuring after churning out cars for 50 years." Legislative committees on Wednesday "began passing the tax breaks, which must be put in place quickly because Xtreme and Clairvoyant face a Sept. 14 deadline to apply for federal loan guarantees for renewable energy projects." Hat Tip: NAM